tv [untitled] November 3, 2011 11:30am-12:00pm EDT
ali who took the most babyhood. collection among the clothes and. made. believe most a movie medicine it was promised but they protest. it without a lot from moscow a quick summary of the headlines for you now a grease reportedly scraps plans for the referendum considers the creation of a national unity government g. twenty leaders to sky meeting can to discuss how to prevent the eurozone being dragged down by greek debt. oakland's streets littered with tear gas canisters and spend to rubber bullets after a riot police crackdown on a massive occupy protest that left america's fifth largest port paralyzed. plus a russia questions of the fairness of businessman picked up boots trial wants to
bring him home after a new york jury finds him guilty of arms trafficking. ok my colleague bill daughters here in half an hour's time but for now that's promised our latest edition of the concert report. this is the kaiser report i know you want to see max and. we're going to accommodate you with it going up probably in december will be in bed not only that but you're not helping me by not following me on twitter and by following stating over and now he's catching up to me on twitter and the number of followers and that's not right is it it's called the report all right here everybody got for me max make love not that. that's the yobbo art sense in this week as you see apparently john lennon and yoko ono were actually watching the kaiser
report during their famous bed in in one nine hundred sixty nine and you see you know this is a unique perspective not very many people look at this shot from that time but as you can see they were also saying all we are saying is let the banks fail and kaiser karma at the time nobody thought to look at the full three sixty of that chart exactly to look at some of the posters on the wall like make love not dead now suddenly in the air twenty eleven john and yoko were close and they saw john was a visionary he saw the future he knew it was coming well let's move on to the first headline here max the new world order fiscal austerity sectors in the line of fire this is a report from society in general and they say we are all greeks now max as we're all greeks must say that in greek you must feel you know you must feel you missed
all of that. and i always thought what i was saying was i mean another cup of coffee i thought that's what i was saying i don't know you like elaine anyway soc gen says that no one can claim to be immune from a greek style spiral why because our economies are richer and we are aging so public expenditure they say will hit forty five percent of g.d.p. by two thousand and fifteen but. max i don't think it's because just because we're aging i think it's because we have too much crime too much banking crime too much debt yeah well that's this is the underlying kind of realisation that is slowly coming into the consciousness of those who are being victimized by banking crime you know remember ten years ago it was the anti-globalization movement and then they figured out you know what let's let's get more specific here it's actually wall street it's actually the banks we need to attack and then the next step would
be to name individual bankers and then to get the pitchfork but soc gen should talk because of course they wouldn't be in existence if greece actually went under because bailing out greece was largely bailing out society in general and bank. well this is an interesting comment on how modern banks work you have the research department then you have the m. and a department mergers and acquisitions then you have management any other proprietary trading desk and these parts of this company this bank should all be regulated in some way so that they don't abuse their positions to make money at the cost of the overall integrity of the system and what's now known as the bottom ninety nine percent so the fact that a research department decided general first of all society in general is technically insolvent they have not enough working capital to to meet their monthly
expenses that it's all coming from outside forces and through the shadow banking system same thing with being pete it's technically an insolvent bank doesn't stop the research department from putting out reams and reams and reams of research some of which is good some of it bad but all of it is in consequential taken in the context of global bank meltdown global currency meltdown and the rise of gold and silver well you. shadow banking system bailing out soc gen shadow that's a whole lot like the us federal reserve i have to say all the us federal reserve balance sheet is now several trillion dollars in size and growing rapidly and what they're trying to do now with the f.s.f. which is the european version of what happened in america in two thousand and eight they want to take essentially the bundesbank the german banks and they want to expand their shadow banking system and according to the president of the e.u.
they want to expand it to five trillion euros right away and probably take it up to twenty trillion euros the next six months but max we are all greeks now or even. greeks set to scream bloody murder as pension fund threatens to recruit eight billion euros in illegally paid out proceeds this is another thing you're going to see going forward in this is something we've talked about a few years ago that we predicted this is they're going to come up with all sorts of oh you illegally paid this to you and you illegally accepted this pension money and therefore you owe it. check out the the asymmetry here they're abrogating a contract a pension contract and they're confiscating billions of euros at the same time out of this lot of them out there saying that well we have to honor our debts to sovereign creditors we couldn't possibly abrogate a contract that's anti civilization so they speak out of both sides of both
countries and almost to the benefit of the talk one percent always to the detriment of the bottom ninety nine percent the greek people are on the street of course they're fighting back they understand it's the banks now they understand a pop and rails in the pocket of the banks that he's a terrorist as in terrorism as in patriot act style terrorism and he needs to go so there are hedge says very soon greeks will discover that not only are their pension funds about fifty percent underfunded courtesy of the first of many european bailouts but that they will actually have to repay pension proceeds back that's eight billion euros again and it's according to the social security foundation i k a spiral putus the purchases are not under funded the great banks are overfunded ok hope untrue needs to be showered in a mountain moussaka. he needs to be buried a lot of lusaka but i can make him more appealing than he normally well definitely
tastier well the other thing i thought of this of course is that you're going to have these your savings disappear for example and they'll say oh we illegally paid you your pension or you illegally collected your pension and it will be up to you to go up against the behemoth of the state to prove that actually you were owed this pension that they said you collected illegally and that reminds me in america all of these foreclosures that happened over the past few years where there was no paperwork no titles all sorts of illegal activity for which the banks have paid nothing but us some small fines here's the headline max disgusting fraud closure for mocks their victims at how we already so this was on friday of last week and it was the law firm of stephen j. down who are known as a foreclosure mill and they represent mortgage lenders including citi group j.p. morgan chase bank of america and wells fargo and as you can see from these photos
this is their theme of the homelessness of the people homeless due to their foreclosures so in this one image you see these two women who have the sign i lost my home and i was never served so specifically marking the fact that there are crimes all of these banks and these foreclosure firms but they are the ones that committed the crime and they're laughing at the people that they thrown out into the street. were all great i think we're all on the transfer of lincoln now basically it is wall street banks have their way you know what we it's going to happen in europe is probably another. kristallnacht you know this is the night when game on you know when basically it just will take it all you're going to get oh you're going to concentration camps that's what the banks in france and germany are angling for now and let's turn to this other image here from that same. party there's one sign that says o.t. se it stands for order to show cause which is
a last ditch motion that often made by desperate homeowners about to be evicted from their homes and another sign saying bleak foreclosure on current so again taunting these people taunting the people that they've illegally foreclosed on and forced out of their homes based on mortgages from j.p. morgan citigroup and wells fargo that were illegally induced that were fraudulent li induced mortgages all these mortgage bankers and brokers are demonstrating classic signs of the serial killers who they want to be caught you know they're sick and they want to believe these clues because they realize their society needs to do away with them well i think you're right there max on the serial killer france because that is perhaps something you're seeing because of the lack of justice the fact that the obama administration and their department of justice refused to prosecute these crimes these people become very hubris stick they think that they are better than everybody else and they can mock them and then also there
are some who genuinely feel guilty and want to be caught so they're leaving all sorts of clues to their crime i mean those women in that photo they're openly admitting to their crime but they sent a family out into the street and bill blair put fifteen hundred of these guys in jail during the eighty's he was very specific about saying eric holder of the u.s. attorney general is also on the hook for this type of negligence just to highlight max how disgusting this event was i want to turn to new york city homeless facts the homeless population of new york city rose to an all time high in two thousand and eleven a reported one hundred thirteen thousand five hundred fifty two slept in the city's emergency shelters last year including over forty thousand children so forty thousand children these two women are marking not be talking about a final solution but i think the better neighborhood. livin is next kaiser is neighborhood this is some more giago art currently somebody is making
a film version of this show but let's turn to the european neighborhood jim rogers says new greece still can't save europe so going back to greece for all greek now jim rogers was very surprised and happy that there's a fifty percent haircut on greek debt but he says it needs to be more because they're bankrupt and need to be one hundred percent so unless that happens europe is doomed well it was a fifty percent greek that haircut but a five hundred percent increase in recapitalization of fraudulent loans from the banks so the banks made money and the total and out of this went up but down propaganda well jim rogers concurs there because he says most european countries are increasing their debt rather than decreasing their debt until that changes the problems are going to continue just as they will in the united states jim agrees with me of course as always yes he wears a bow tie like you do occasionally as well. i got him into gold i'm the one who got jim rogers into gold. anyway final neighborhood story here iceland passes
final hurdle in eleven point four billion dollars payout so apparently there are high court in iceland has accepted the emergency law which. essentially allows iceland to shaft the gong holders which include royal bank of scotland b.m.p. perry and the oyster bank and make whole depositors' you know i think we're going to get into this in a second half our way i think who i think you're talking to you owns dr oh good so we're going to explore this more deeply thanks eric thanks so much for being on the kaiser report humans don't go away much more coming your way including our gator jones got here talking about this very icelandic screw up. sixty. five hundred days on a voyage to the. a breakthrough in space travel.
well thank you very much i'm happy to be back gate the last week the icelandic government and the i.m.f. co-hosted a conference iceland's recovery lessons and challenges before we discussed the conference give the audience a brief outline of the collapse in iceland oh wow so in two thousand and eight we had thirty nazis on our show now. we were the most developed nation on earth and you won two thousand and seven and two thousand and eight we were. under terrorist acts one of our ranks. nason big name associated with and that's the kind of. along side the north. where ok let me let me stop you right there so in other words. some global authorities recognise that the icelandic bankers were terrorists and they put them
on the terrorist watch list or they they've been hunted combat as terrorists oh no there's you are investing. money i'm going to still. it's people in the well and unfortunately none of the people responsible for the console scheme in relation to the banks has been persecuted to my understanding go it is very difficult to get these people charts because many of them the people that run the banks they call rogue los so they know which loopholes to utils and which grayson's to scale so i am not sure if the people responsible from dropping the banks from inside where will be held accountable and this is of course not only a problem in iceland for all of it but it's hard to believe because they were able to get gadhafi saddam hussein what was the name of the primary terrorist in iceland that people are trying to find and prosecute hopefully hang but as they began your
porch your son and he is so actually one of the prime and us through sin on you that is sometimes in iceland that some pronouncement when paul and he was responsible for i said but there are some good news in relation to these three basic go there was a court ruling finally in relation to his emergency last week with through in order to you with the fanatical outs will hold on not they will hold and that means the british in the ducts governments will get all their money back will be asking them to crack spears. because hussein has who are ruling eminent cares if we reach the year law yeah that's right david cameron and the government at madeleine's they are being held hostage by a banking terrorist in their country is the name they made the icelandic people to help them find the extortion money now when i still is dealing with the i.m.f.
how much debt that iceland take from the i.m.f. and what did the i.m.f. demand in exchange for their loans well this is all a very interesting story actually calling. the finance minister and the central bank manager in iceland we are not used any of the loan from the owner but we still haven't given it back to them even if we are supposed to have been in the program in place and being used the i am at present now this able to use iceland. and so on up to now sure i will kick for them in the new currently i am or. i have to remind people on their own or the conference announcement last week about their policy in the east and their policy program in their only or where they and b. have not changed anything from the previous disasters in asia spoke to still trying
to market so the i.m.f. process if a person changed and i think it's dangerous for many economists and so people look at the icelandic sample as a proof that the only methods change it's now here no money they have not and even if things they have not done are harshly innocent there there is for example one so are either not was not discussed that this one person or and that is the run of our energy companies i was sold to a foreign company like one of these car companies they've created a poor company in sweden order to buy them they were props from the pan american civil corporation from canada and they managed to get at least source that suit indeed to remain in the ownership of the nation ok let me a cutter and therefore fleckenstein other words iceland to not use the i.m.f. but the i am upper still going forward with asset sales of icelandic of
properties anyway and are using iceland as the poster child for their activities in greece i. i don't understand i mean they have the perfect poster child the government starts garvey's it's got to be the financial records double century how come they don't push you out of those critical guard bend your country yet to let you know the good news that the i.m.f. is there to help you no we don't think it's being in iceland yet but there we have there and i am the managing director speaking at this conference and our panel now sees so that the i.m.f. cat in even iceland how it's strengthening the welfare system which is the poorest looked at first why we have basically we only had rather we all health care and education in a sense the. promise of anything new and that's partly but we are we have accepted this. we don't even have properly stopped hospitals and all the hospitals
now are so they've been slashed so badly that we've been getting noticed from all of the parliamentarians nazanin is basically saying the thing can't happen anymore unless you know we will have health hazards and operate the same price through the educational system and of course usually the people that can't come to the cells have the most difficult time in that sort of austerity measures so even if we have women or the i.m.f. i don't think it has changed yet and i don't think we're in a chance to be personally whole now what the function of the i.m.f. bits and that is not to look up to people but to look back to people who don't have power so they're not they're looking after the one percent not the ninety nine percent right now iceland did stiff the bondholders on the collapse of the banks in iceland something that you're are seeing in ireland are greece or the bond
holders are being made whole so that piece of the equation in iceland anyway same sort of gone in favor of. the the population what are your thoughts on this aspect of the of the whole catastrophe well i think there are some things that can be learned from us and we have to bear in mind that eisner this of course really special it was not because the us not the government was so smart but. banks fail if you couldn't get the money to save them. and you know that was needed back the crowd actually has turned out to your great blessing on the three banks were actually allowed to fail but one of the differences between iceland and many other countries is that many of the people that had funny in the banks or serious or if you know how on some of these toxic when tiriel and so were not as numbers they were mostly. poor and only they collapse on one of the staple jews but would not
be the case was would collapse in france so that was our blessing in disguise that we you know being used as a house. who are foreign traders and some countries might actually want to consider. i think in general what people are calling for now all over the world is that the banks will become smaller now. and will be separate in. more accountable and we should indeed do so it's sort of community based grants for people in the communities and then the people wouldn't run well with their bubbles teams maybe in the city of london well any any economy anywhere thrives on competition and if you have too big to fail banks that means you don't have competition and the i.m.f.
is saying that wait a minute we don't want competition and i phones banking system we want to put it together with our global bailout funds to continue the too big to fail. if that has destroyed these economies that made our staff extraordinarily wealthy and everyone associated with our staff so yes competition needs to have actual multiple entrance into our market competing with each other but let's get back to the conference that you were recently attending because we were reading your tweets from the conference and you tweeted that citi group their chief economist william boater said that there should be a jubilee jubilee every fifty years your thoughts on how that was received well now was a surprise to many in person he said we should be better than fifty years and you know it meets the new forty nine or fifty so he was basically saying that we should have that you clean house and maybe that time has come anywhere maybe it's time we
. we start anew and i think there what i've been hearing out here is that people who don't trust in the system any ask since them because the system is sound so that's a matter of national system or border since the ins so yeah why don't we. it's nonsense gratis and have you believe in everywhere well the gold and silver vigilantes are going to force the issue one way or another the government can put off the inevitable as long as they want not stopping gold and silver from continuing to go higher well finally brigade a question from facebook dot com slash ties a report from jesse kersey who asks those brigade to believe that the greek and or portuguese lawmakers call harness to take back their sovereignty or is it too late for them and let me just also add here from what you're saying here today the
i.m.f. is so intricately involved in the icelandic banking situation today that it's not clear that iceland really has avoided loss of sovereignty yet is it pretty to yankee it's not clear on who you think the banks will meet will you start and we actually there isn't so much bank secrecy even though. the minister doesn't have access to who owns the banks that have been resurrected out of the old friends so there's still no transparency in the in the icelandic banking system even though you are unmercifully financially raped by h.s.b.c. barclays lloyds of london lehmann bear goldman j.p. morgan you were gangbang unmercifully there's still no transparency in iceland right of ways and we've been writing me and a few other people no problem and we won't be speaking to the arabs and i think we have to bear in mind that most politicians who are you know people in power are
it's their parents who are punished. and we just have to face it and it is really time that we look beyond the traditional. that space of our democracies and they are to take my knee had we the people we do not have access to decision making want to make sure that they're doing their jobs in favor of our needs and the needs some ninety five only the few brigade of drones don't there that's all the time we have for thanks for being on the kaiser report where you so much and that's going to do it for this edition of the kaiser report with me max kaiser and stacy herbert i would like my guest we're going to joan's daughter there you can follow her on twitter at her gate j. you can follow us on facebook dot com slash kaiser report or a twitter slash kaiser report and you can also send us an e-mail a kaiser report in r t t v are you and follow me on twitter instead of stacy herbert i'm max kaiser slash twitter no it's twitter what you'll figure it out it's